Elan Corp.

Carlos V. Paya, M.D., Ph.D., will be named president, Elan Corporation, plc on November 25, 2008. Dr. Paya will be based at Elan’s South San Francisco campus, with particular focus on and responsibility for leading the company’s scientific, clinical and medical initiatives and delivering successful results in these areas. He will also bring additional depth and executive management perspective to Elan’s strategic assessments and decisions in all areas of the company.

Kyran McLaughlin, chairman of Elan’s board, said, “As an immunologist, a former vice dean of Clinical Investigation at Mayo, and as a successful industry executive, Dr. Paya has a unique set of attributes and experiences that perfectly match the opportunities and challenges facing Elan.”

Dr. Paya will lead the continued integration of Elan’s R&D teams, and all of the company’s medical, scientific and research functions will be accountable to him, including Development, Research, Clinical Relationships and the offices of the chief scientific officer and chief medical officer. The chief medical officer will also retain specific accountabilities to chief executive officer Kelly Martin, as they relate to patient safety.

Dr. Paya will also assume responsibility for Elan’s commercial and marketing functions, with a primary focus on strategic planning, marketing positioning and product life cycle management. The company’s corporate and business development responsibilities will be shared by Dr. Paya and Shane Cooke, Elan’s executive vice president and chief financial officer.

Dr. Paya joins Elan from Lilly, where he was vice president, Lilly Research Laboratories and Global Leader of the Diabetes and Endocrine Platform, responsible for the company’s insulin franchise.

Prior to Lilly, Dr. Paya had a 16-year relationship with the Mayo Clinic in Rochester, MN, which began with his acceptance into the Mayo Graduate School of Medicine in 1984 and concluded with a six-year tenure as professor of Medicine, Immunology and Pathology and vice dean of the Clinical Investigation program.

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